Brown & Brown names Mike Neal, Mark Abate to retail leadership team

Brown & Brown names Mike Neal, Mark Abate to retail leadership team | Insurance Business America

Insurance News

Brown & Brown names Mike Neal, Mark Abate to retail leadership team

They will drive strategic growth and customer experience improvements

Insurance News

By
Kenneth Araullo

Brown & Brown has announced the appointment of Mike Neal (pictured above, left) and Mark Abate (pictured above, right) to its senior leadership team, marking a continued focus on expanding expertise within the company’s retail segment.

Neal and Abate bring decades of experience to their new roles, which are expected to strengthen Brown & Brown’s ability to deliver comprehensive risk management and insurance solutions.

Neal, a veteran with more than 30 years in the insurance industry, serves as executive vice president within Brown & Brown’s retail segment and is president of Brown & Brown dealer services.

His division is dedicated to auto and RV dealer training and finance and insurance (F&I) products. Neal joined Brown & Brown in 2008 when the company acquired his insurance agency, which specialized in providing commercial insurance for dealers in RV, used auto, powersports, and manufactured housing sectors.

Abate, with over 35 years of experience in employee benefits, leads Brown & Brown’s Southborough, Mass., office and oversees several of the company’s pharmacy and audit solutions operations.

Abate joined Brown & Brown in 2015 following the acquisition of Strategic Benefit Advisors, and he has been instrumental in developing health and welfare strategies tailored to client needs.

Powell Brown, president and CEO of Brown & Brown, noted that both Neal and Abate have deep knowledge in their respective fields.

“They bring extensive experience in their respective specializations, and their contributions will support our ongoing mission to be the world’s leading provider of risk management and insurance solutions for our customers,” he said.

Barrett Brown, executive vice president and president of Brown & Brown’s Retail segment, added that their experience would broaden the company’s capabilities and allow it to develop innovative solutions aimed at enhancing the customer experience.

“They will bring added strategic guidance to support the continued growth of our retail business,” he said.

This announcement comes shortly after Brown & Brown reported a rise in net income in its second-quarter and half-year financial results for 2024. The interim earnings report for the second quarter of 2024 showed total revenues of $1.18 billion, up from $1.05 billion in Q2 2023.

For the first half of 2024, total revenues reached $2.44 billion, compared to $2.16 billion during the same period in 2023.

What are your thoughts on this story? Please feel free to share your comments below.